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प्रश्न
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
पर्याय
True
False
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उत्तर
This statement is True.
Explanation:
A monopolist faces a downward-sloping demand curve, which means in order to boost sales, the monopolist must lower the price. This is because, in a monopoly, the firm is the only source of the goods, and if it wants to sell more, it must lower the price to attract more buyers, as it cannot sell an unlimited number at a high price.
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संबंधित प्रश्न
"The price of a product under perfect competition is determined by an individual seller."
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Define oligopoly.
Define monopoly.
What do you mean by homogeneous products?
What is meant by the term ‘price taker’?
What does perfectly elastic demand curve faced by a competitive firm indicate?
Identify the market form from the following:
A few large sellers
Which of the following is an example of a perfectly competitive market?
